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Research and Customer

Development
Sheryl Frame
Director EDICT International Consultants Pty
Limited
Case Manager: Commercialisation Australia
My background

Studied Physiotherapy at WITS


South A!rica

"#$ years in IT industry %& 'ith I(M

EDICT !ounded in %))%

EDI*Care %))% + %)),

Promed %)), * ,$$$

E-press .- ,$$# * ,$$/

Medine-us ,$$0 * ,$%$

Clay1o ,$$2 + ,$%%

CA,$%% * present
Product or idea?
WHAT

3Light 4ul45 moment

.eal 6uestions:

Can it 4e made7 4uilt8

Can it 4e translated into a 9ia4le 4usiness

To ans'er that you need to esta4lish:

That it !ills a mar1et need

That it lends itsel! to commercialisation

There are no legislati9e 4arriers that can:t 4e addressed

Costs o! getting to mar1et


Other Key Questions

the 4usiness model

ho' do you plan to deri9e


your re9enue lines8

the deli9ery model

ho' do you plan to physically


deli9er your product process
or ser9ice to customers8

At 'hat stage do you !orm


a company
Understanding the environment
Market opportunity - WO

What customer pro4lem ha9e you sol9ed 8

De!ine your target mar1et

Who are your intended customers8

Estimate the si;e and 9alue o! your target mar1et

<o' 'ill you deri9e re9enue !rom your product8

De!ine your intellectual property

any protection mechanisms employed =e>g> patent trademar1 etc?


Understanding the environment
!alue "roposition - W#

Customer needs desires and dri9ers ='hat moti9ates


them to 4uy8?

the 9alue o! the ne' product process or ser9ice !rom the


customer:s perspecti9e

the competiti9e ad9antage =ho' your product process or


ser9ice is superior to currently a9aila4le o!!erings and 'hy it
is pre!era4le to the status quo8?

pro9ide independently 9eri!ia4le e9idence o! 'hy customers


'ant your product process or ser9ice

'hat e9idence do you ha9e to con!irm the !unctionality and7or


technical 9ia4ility o! your product process or ser9ice8
Understanding the environment
$%ecution plan - W$&

o9erall o4@ecti9es and tactics to achie9e these o4@ecti9es * the 3ho'5

the path to mar1et =e>g> direct sales distri4ution channels !ranchising etc>?

the 1ey structural or mar1et challenges to 4e resol9ed =e>g> go9ernment regulation


mar1et inertia timing imperati9es manu!acturing capa4ility7capacity etc>?

the core elements o! your operational plan =e>g> human resources in!rastructure
esta4lishment mar1eting and communications re9enue7cost and pro!it pro@ections
o9er the ne-t %, to #0 months etc>?

ho' 'ill you manage any intellectual property necessary !or success!ul
commercialisation =e>g> !uture protection strategies !reedom to operate etc>?
Understanding the environment
Research & Validation

Ano' the en9ironment

Bnderstand the pro4lems


and the competition

Tal1 to all the players

Engage 'ith potential


customers
Understanding the environment
The People

Management team

Sta!!
=la4our and contractors?

Consultants and Ad9isors


'inancing your plan

<o' much money do you


need to get to 'hat point8

identi!y immediate and


anticipated !uture capital
re6uirements to ultimately
e-ploit the mar1et
opportunity
"romed "ractice Management
(o)t*are (olutions )or Radiologists
'''>promed>co>;a

(asic 4illing system

Distri4uted LAC:s at each point o! patient contact

Centralised accounting 4ac1*end

(usiness model +

outright sale =DTC? plus

annual maintenance and support charges


"romed + Our (olution

Ealue Proposition:

The a4ility to esta4lish patients eligi4ility !or intended


procedures up !ront get immediate authorisation 'here
re6uired and 4e a4le to secure immediate payment at the
same time pro9iding a 3one stop shop5 solution !or all Practice
Management Solutions

Suppliers:

<ealth Funds

<ard'are Eendors =I(M and Acer?

Allied ser9ices * Eoice recognition and dictation ser9ices


"romed + ,he outcome

Captured lion:s share o!


mar1et in # years

Trade sale to Dimension


Data a!ter / years

Terms o! sale:

(ased on Pro!it o9er %,


month period
$%press R-
Remote Dispensing (ystem

Ealue Proposition:

The a4ility to dispense medicines 4y a pharmacist in remote


and rural areas 'here these ser9ices are not immediately
a9aila4le

Customers:

Feneral Pu4lic

Pharmacists

Pharmacy Froups

Suppliers: Pharmaceutical companies


$%press R% +
(chematic
$%press R% +
product challenges

Originalpacksize

Varietyofdrugs

Labels

Temperature

Liquids

Vandalism

Restocking
$%press R% +
Render to Reality
$%press R% +
!ie*s o) .lue"oint machine
$%press R% +
Render to Reality
$%press R% /
"roblems encountered

Medicines (oard

Driginal pac1aging si;e 9ariances

.epeat script printing

Classi!ication o! the machine

Is it a pharmacy8

Final outcome:

In use in BA and Fermany

Patent in!ringement case in progress in Canada


Medine%us
Delivering %-ray images to re)erring doctors

Customers:

.adiology Practices

.e!erring doctors + specialists and FP:s

Ealue Proposition:

.adiologists could o!!er a superior ser9ice

.e!errers recei9e 4oth image and report electronically

Patient isn:t !orced to 'ait

(usiness Model

SaaS + transaction 7 9olume 4ased


Medine%us 0continued1

Pro4lems encountered:

Critical Mass

Integration 'ith e-isting systems

Transaction 4ased 4usinesses ta1e # + / years to 4ecome


pro!ita4le

Bltimate outcome:

Alliance 'ith <ealthLin1


2essons 2earnt

Enthusiasm and tenacity are


!undamental re6uirements o!
success

The ultimate 4usiness model


may di!!er !rom 'hat is
originally en9isaged

A smaller G is !ar more


lucrati9e than %$$G o! nothing

Follo' your dream + 4elie9e in


your sel! and your productH